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Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 9680
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment labor market by examining the behavior of military servicemembers deciding between reenlisting and exiting the military. We find that servicemembers would sacrifice 1.5-2% in earnings in exchange for avoiding a one percentage point increase in the home-state unemployment rate. Comparing these estimates to realized losses in post-service civilian earnings resulting from exiting the military during times of high unemployment suggests that mitigating factors (e.g., leisure, private and public transfers) offset less than one-third of the earnings losses caused by entering a weak labor market.
Schlagwörter: 
welfare cost of business cycles
labor market entry
military reenlistment
JEL: 
J30
J60
J65
Dokumentart: 
Working Paper

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